Long overdue property taxes have been paid by the new owner of a vacant bank building in downtown Dayton.
The Key Bank building had been owned by a Hindu mystic who is serving time in federal prison on an unrelated fraud charge.
When the city of Dayton bought the building recently, the $288,242 in property taxes were paid in full.
The city hopes to redevelop the property.
Montgomery County Treasurer Carolyn Rice said she is hopeful the city’s plan will produce more jobs for downtown Dayton and tax revenue for the school district.
Dayton Public Schools CFO and Treasurer Craig Jones said a large portion of the new-found funds would be going to the school district.
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